Current Opportunities and Challenges in Sound Publishing House - Literature review Example

REPORT ON CURRENT OPPORTUNITIES AND CHALLENGES IN SOUND PUBLISHING HOUSE PREPARED BY MPW INC. ON [Date] Executive summary As publishers are trying their best to meet the changes in technology, the reading preferences of their readers and more experiences in the media are developing. With such advances in technology, digital publishing is gradually gaining the market share. This has led to a decrease in hardcopy publishing. Research has shown that parents of younger readers and the younger readers prefer e-books than hardcopy. However, hardcopy books are also essential since there are others who also value them. Based on this research, Sound Publishing House should consider integration of both formats in order to attract a large number of readers. In addition, the company interest for children has a high potential for development. Its way of communication and marketing is also effective due to the use social marketing and website. It would also be more successful if the company considers creating of a blog for meaningful content and advertise its content in other genre related websites. Table of content Executive summary 2 List of figures 4 1.0 Introduction 6 2.0 Literature review 7 3.0 Methods 8 4.0 Data analysis 9 5.0 Discussion 9 5.1 Reader preferences and habits 9 5.2 Publishing focus and interests 13 5.3 Communication, marketing and development of the business 14 6.0 Conclusion 16 7.0 Recommendations 17 8.0 References 19 Falcone, JP 2012, Kindle vs. Nook vs. iPad: Which e-book reader should you buy? Accessed on 2 October, 2012, http://news.cnet.com/8301-17938_105-20009738-1/kindle-vs-nook-vs-ipad-which-e-book-reader-should-you-buy/ 20 Horne, D 2011, Why every eBook Author Must Conduct Research in to Their Target Audience, Accessed on 2 October, 2012, http://ezinearticles.com/?Why-Every-eBook-Author-Must-Conduct-Research-in-to-Their-Target-Audience&id=6204091 20 Neill, D 2011, Piracy, Fraud, and Other Challenges for Publishers, Accessed on 2 October, 2012, http://blogs.wiley.com/publishingnews/2011/05/11/piracy-fraud-and-other-challenges-for-publishers/ 20 List of figures Figure 1: preferred format …………………………………………………………………….. 8 Figure 2: preferred e-book platform …………………………………………………………… 9 1.0 Introduction As the publishers and managers attempt to meet contemporary technological changes and reading preferences for their readers, more experiences in the media are gradually developing. A more important consideration for publishers and readers is whether to use digitized or paper media in accomplishment of their tasks. This has attracted interest in the merits, attributes and effectiveness of these media (Shirattudin, Hassan, & Landoni, 2003). An e-book is referred to as a book that is available in digital format in order to be read onscreen or be downloaded in an electronic device. Thus, they consist of images, text, or both and are published through, produced on, and readable on electronic devices such as computers among others. They are usually readable on e-book readers but other devices like mobile phones and personal computers are also used to read e-books (Mattison, 2002). According to Downes (2007), e-book has various characteristics which include hyperlinks, use of multimedia and other components for interaction, search features, presumed lower costs of production and distribution, ability to convert or customize appearance and text to audio, and longevity. E-books may be issued by trade publishers with a primary market of retail sales through booksellers or online to individuals; or scholarly publishers with a primary market of academic or research sector. Annand (2008) insists that, for publishers to remain competitive in the market, it is important to integrate both e-book and paper book formats in order to target all readers. This is because the most important thing for readers is the text but not necessarily the medium. Due to such reasons some readers prefer paper book due to various factors. These include easy readability, availability, lack of power to function, and lack of significant strain on readers’ eyes. On the other hand, e-books are also preferred for various reasons which include portability, easy accessibility, adjustable readability such as zooming functions and letter resizing, edit options and more powerful note-taking. 2.0 Literature review Research shows that there are more signs from the literature that the popularity of e-books is increasing. According to Rowlands et al. (2007), more people especially the younger generation are more interested in electronic resources and they are attaching greater value to such medium. They noted that e-books are more preferred due to their ease of reading and other benefits which include availability, currency and ease of making copies. Chang and Ley (2006) also noted that younger readers prefer e-books as compared to print based. They also view the capabilities of e-book as having continual improvement and the likelihood of reduction in their costs in the future due to advancement in technology. With such factors, e-books are becoming more accepted but also, the print based books are also are still important. According to Strouse (2004), e-book has improved various factors to the readers such as navigation and the ease of moving content from one area to another. He adds that with the electronic format, the material is more accessible and convenient. The readers like e-book more due to the ability to download the content and storing it somewhere such as in a computer hard drive. This is another way of improving accessibility of the contents of e-book. In addition, e-book is extremely possible where one can carry as many volumes as required using a small device unlike the print-based book which is very bulky to carry. This portability factor is very important especially for readers who are travelling. This factor is also underpinned by flexibility where the reader can access the material onscreen and can still print significant information when required. However, Spencer (2006) also noted that there are certain challenges associated with e-books which show that print-based books can also not be ignored by the publishers and readers. He found out that there are some readers who preferred printed books due to various factors such as dependability and ease of use. He noted that e-books requires network connection or power supply and has lower resolution. With such factors, it may not be easier to access digital books. Thus, although both formats are important, technological advancement has led to more preference on e-books than the printed books. 3.0 Methods The study involved online cross-sectional survey of parents of younger readers and the younger readers themselves. The participants were recruited through emails and various websites which parents of young readers and young readers usually frequent as well as through announcement in social media. Parents who have more than one child were asked to base their answers in regard to only one child. The data was collected for three months by use of survey monkey. The participant required around 5 to 10 minutes in order to complete the survey. We designed our survey in a way that it would be applicable to our target parents of younger reader and the younger readers themselves. There were also branding questions that were relevant to the specific our participants on the grounds of the device or platform ownership and whether the parents of younger readers co-read e-books with their children (Vaala & Takeuchi, 2012,). 4.0 Data analysis The study analyses included charts, frequent tallies and percentages. It also included descriptive statistics such as standard deviations and means. The differences between the expected and observed frequencies in nominal or dichotomous items were determined using cross tabulations with Chi-square tests. The significant differences’ T-test in means was employed with ordinal level items which were asked for parents who co-read e-books with their children and the ones who don’t. In addition, it included the reading behavior, demographic as well as e-book perception items (Rainie et al. 2012). 5.0 Discussion 5.1 Reader preferences and habits The research showed that younger readers and their parents prefer e-books than hardcopy books. Among the three commonly used platforms among the younger readers and their parents are the iPad, Kindle and Nook. Among the three, the most preferred platform is based on the following factors: requirement of more functions other than reading, the size of the screen, the screen preferences, the need for wireless data, and the flexibility of the platform. Based on the requirements of more functions other than reading, younger readers as well as their parents are interested with other factors such as reading about magazines or newspapers, browsing the web, adding multimedia, email messaging, flash support and gaming. They like reading books with online features such as e-mails, social networking. They also prefer more color screen and functionality. Based on this factor, most settle on third generation iPads. Based on the screen, most settle on mid size tablets or readers which include IPads and Kindle. All tablets also have touch screens but if the reader wants to take notes while reading or any other text input, Ipads are more preferred (Falcone, 2012). Fig. 1: A chart showing the preferred format for parents for young readers and young readers Based on wireless data readers say iPads offer either 3G or 4G options which makes them preferable because they may need to access more information while reading. On the other hand, readers do not prefer Kindle Fire because it does not offer 3G version. Thus, based on wireless data, iPads are more preferred. On the grounds of the flexibility of the platform, Kindle books can be easily accessed on iPads and iPhones via web browsers such as Cloud Reader while Nook books can also be accessed on iPads via web browsers such as Nook for Web. Thus based on this factor, iPad becomes more flexible because it can access other platforms (Falcone, 2012). Fig. 2: A chart showing the preferred e-book platform among iPad, Kindle and Nook E-books are cost-effective especially in terms of cost savings and space savings. For new books, electronic version is usually the cheapest way to go for readers. The prices for new e-books releases are usually less that of hardcopy books. In addition, the cost of getting a hardcopy books may be higher especially when the book is not sold near the readers’ vicinity. This is because costs such as transportation cannot be ignored while on the other hand, you can access it in your room. However, the pricing of e-books is usually bigger due to presence of an agency model where the publishers are made to set up higher prices for their books so that the agency can take a certain percentage. This may lead to more costly e-books as compared to the hard copy books (Neill, 2011). Most readers opt to pay for the content even if it can be accessed online for free. This is because readers do not like spending more time on internet to look for something that they may not get at last. Such circumstances include searching for a free book in a certain site such as Google search and the results are returning you to a site. Then the site may try to sell you something. This makes the process difficult and lengthy where the reader finds it costly and time consuming. In addition, although the free books may be provided, most of them do not provide quality books. Instead, they usually display other quality e-books for buying. This means that the readers will find it easier to get quality content by buying. For startup publishers, ‘free’ models of provision of online content is the most effective way. Many readers are in search of free content in the internet and the first time they get into your content as start up publisher as free, they will like to visit again in order to get more. By the other time when the readers will be accessing the content, they will subscribe for the content. This is an effective way for startup publishers which involve investing time first, the money later. The approach to digital publishing follows the traditional process of publishing, but the difference is dictated by two ways: first, the printing of final product does not include an offset printing press; second, digital publishing avoids physical product distribution. Thus given that the digital content is electronic, the distribution is mainly done through the internet. Thus, the consumer then reads the published content through the website by use of preferred platform such as iPad and Kindle among others. Digital publishing is entirely based on digital technology: XML tags for definition of content, style sheets define the content look, metadata describe the search engines’ content. Thus, application of tags, metadata and style sheets, and the content for search engines is described which adapts various delivery methods or reading devices. The designing of digital publishing requires understanding of text mark-up languages, availability of various reading devices and they way in which the consumers read. The key file format is .epub for e-book formats which involves an open and free standard in many publishing program (Ellison, 2002). 5.2 Publishing focus and interests As a small publisher, it is preferable to initially focus on one genre such as children books. Readers are interested in quality e-books and small publishers cannot initially afford to capture a wide range of genres at the same time. This is the case especially where the larger publishers have already taken their positions in the market. By specializing on one genre, the small publishers will be in a better condition to improve the quality of the specified genre. Any small and upcoming publisher needs to better understand the market paths. This will place them in a better condition of maintaining a competitive advantage against their customers. Once they have established themselves in the market, it will be easier and cost-effective for them to gradually introduce other genres into the market. One of the most important factors for a publisher is to identify the e-book’s target audience. Such are the group of readers whose preferences and needs match the range of the e-book being marketed. Marketing will involve defining and identifying the target market for the readers looking for information contained in the e-book. It is essential to define the publishers’ target market by understanding various factors such as the extent that you know the e-book, be clear about your e-book, the already competition in the market and the way to price your e-book. In addition, understand the e-book genre such as children, the topic of the e-book, the already existing similar books, and goal of the e-book such as fame or making money, the countries to market and the reading platforms (Horne, 2011). Children’s interest is one of the genres with a potential for development in Sound Publishing House. One of the factors is that the children are in the stage of learning a variety of books in order to improve their understanding. Second factor is that the children are in the age of being reluctance to reading paper books and wants something creative. The children have great interest in e-books because they like new things in their field of study (Landoni, 2010). Thus, the publisher has a high potential of developing this genre as long as they focus on the skills and the needs of children. This includes innovative use of technology and availability of a variety of desirable electronic titles for them in order to make reading a very attractive and appealing to the children. 5.3 Communication, marketing and development of the business According to Wilson, Landoni, and Gibb (2003), use of social network marketing and the publisher’s web are one of the most current effective ways of communicating to e-readers. Use of social media such as face book catches the attention and gains the credibility of core e-readers. Publisher’s website is the main site of displaying the content which means that the better the way of presentation of your content, the more attractive the site is to the core audiences. There are various ways in which the company can take to communicate with core audiences. First, the company can create a blog as one of the best decisions in marketing. Upon creating a blog, the company should then network with various blogging authors. The blog should create a very useful content that is attractive to core audience. It should offer more including tips in writing and editing, interviews with authors as well as balanced assessment of the publication industry. Secondly, the company needs to advertise its content to other websites that are related to the target audience. For instance, if the genre is children, the company should attract its content in websites related to children such as games among others (Malama, Landoni & Wilson, 2005). One of the challenges of expanding internationally is the language. Most likely, the countries which the company may wish to expand use different languages. This means that they will have to put into consideration if the country is interested with their books then make decision to translate the language into local content. Another challenge involves incurring of more costs in using of physical space for the hardcopy books in the countries of venture. There are also other challenges which include piracy which is also a significant challenge in this industry. The opportunities of digital publishing will lead to decrease in some challenges of digital publishing. The challenge of cost as a result of space will be minimized since through digital publishing, it is easier to study the market through the internet without visiting. Digital publishing also reduces the challenges since its two main rules in international expansion are focused on targeting where the e-book readers are and where the e-books are. This is made easier through the internet. However, response to piracy as well as fraud is a challenge that is gradually evolving especially due to new emerging markets, new technologies and changes in regulation worldwide. Such a significant challenge is very common especially in digital world due to pervasive illegitimate copyrighted materials (Neill, 2011). Given that the percentage of women and children is gradually increasing throughout the world, the number of e-readers in these two genres is also increasing. This shows existence of a great opportunity for digital publishing. In addition, there has been a move in most parts of the world meant for promotion of girl child which also serves as an opportunity. Children are very curious in the advancement in technology. By being innovative in children’s content, there will be a creation of a great opportunity for digital publishing. However, males usually dominate most of the businesses in the world and this creates a perception to the people that businesses led by women may not be such successful as the similar businesses run by women. While focusing on the genre of children, there is also a perception that business related to investing in children are meant for fun but not profit making. In modern world, more business is focused on the interests that have returns. Hence, children interests in e-books may be ignored if perceived as if parents may be spending more in such investing in e-book platforms. 6.0 Conclusion It is clear that digital publishing is gradually gaining market share with the rapid increase in technology. Parents of young readers and young readers prefer e-book than hardcopy books. However, hard copy books remain relevant in publishing industry. Integration of both is very crucial for the success of Sound Publishing House. E-book for children in the company has the highest potential for development due to their interest in advancement in technology and innovation. The communication of the company to the target audience is effective and consideration of factors such as a blog and advertising of their content in related websites will make communication more effective. 7.0 Recommendations It is suggested that the company put more emphasis on children e-books since they are have the highest potential of development. What is important is to make e-reading for children a fun experience. This will be achieved through new innovative interfaces for the children to full undertake an active role their design. In addition, the most crucial thing to achieve this is providing the children with the material that the children really want to read. It is also recommended that for the company to expand internationally, it must consider two rules which include: going where e-books are and going where the readers are. 8.0 References Annand, D 2008, ‘Learning Efficacy and Cost-effectiveness of Print versus e-Book Instructional Material in an Introductory Financial Accounting Course’, Journal of Interactive Online Learning, Vol. 7, No. 2, p. 152-164. Armatus, C, Holt, D & Rice, M 2003, ‘Impacts of an on-line-supported, resource-based learning environment: Does one size fit all?’ Distance Education, vol. 24, no. 2, p. 140-158 Chang S, & Ley, K 2006, ‘A learning strategy to compensate for cognitive overload in online learning: Learner use of printed online materials’ Journal of Interactive Online Learning, vol. 5(1), 104-117. Downes, S 2007, ‘Models for sustainable open educational resources’, Interdisciplinary Journal of Knowledge and Learning Objects, vol. 3, p. 29-44 Ellison, G 2002, ‘The Slowdown of the Economics Publishing Process’, Journal of Political Economy, vol. 110, no. 5, p. 947-993 Falcone, JP 2012, Kindle vs. Nook vs. iPad: Which e-book reader should you buy? Accessed on 2 October, 2012, http://news.cnet.com/8301-17938_105-20009738-1/kindle-vs-nook-vs-ipad-which-e-book-reader-should-you-buy/ Horne, D 2011, Why every eBook Author Must Conduct Research in to Their Target Audience, Accessed on 2 October, 2012, http://ezinearticles.com/?Why-Every-eBook-Author-Must-Conduct-Research-in-to-Their-Target-Audience&id=6204091 Landoni, M 2010, Ebooks Children Would Want to Read and Engage with, Accessed on 2 October, 2012, http://research.microsoft.com/en-us/events/booksonline10/landoni.pdf Malama, C. Landoni M. & Wilson R 2005, ‘What Readers Want, A Study of E-Fiction Usability’, D-Lib Magazine, vol. 11, no. 5 Mattison, D 2002, ‘Alice in e-book land: A primer for librarians’, Computers in Libraries, vol. 22, no. 9, p. 14-21. Neill, D 2011, Piracy, Fraud, and Other Challenges for Publishers, Accessed on 2 October, 2012, http://blogs.wiley.com/publishingnews/2011/05/11/piracy-fraud-and-other-challenges-for-publishers/ Rainie, L, Zickuhr, K, Purcell, K., Madden, M. & Brenner, J 2012, The Rise of E-reading, Washington, DC: Pew Research Center’s Internet& American Life Project. Shirattudin, N, Hassan, S, & Landoni, M 2003, ‘A usability study for promoting eContent in higher education’, Educational Technology & Society, vol. 6, no. 4, p. 112-124. Spencer, C 2006, ‘Research on learners’ preferences for reading from a printed text or from a computer screen’ Journal of Distance Education, vol. 21(1), p. 33-50. Strouse, R 2004, ‘The changing face of content users and the impact on information Providers’ Online, Vol. 28, no. 5, p. 27-31. Vaala, S & Takeuchi, L 2012, ‘Co-reading with children on iPads: Parents’ perceptions and practices’, The Joan Ganz Cooney Center, p. 1-8 Wilson, R, Landoni, M & Gibb, F, 2003, ‘The WEB Book experiments in electronic textbook design’, Journal of Documentation, vol. 59, no. 4, p. 454-477 Read More